Rating

Private rating agencies provide credit assessments for companies acting in different industries. This evaluation is based on information from a continuous dialogue between the rating agency and the company and a comprehensive analysis of all available information.

The credit rating of an independent agency supports debt capital investors in the risk assessment of companies and their issued financial instruments.

On October 7, 2015, one day after the initial stock market listing of the Covestro share, Covestro AG received a Baa2 investment-grade rating and a stable outlook by the agency Moody’s Investors Service. On December 19, 2017, Moody’s upgraded the outlook to “positive”. On July 30, 2018, Moody’s reassessed the existing investment grade rating of Covestro once again. Due to the sustained good earnings situation and the significantly improved balance sheet structure, Moody’s raised the credit rating for the company from Baa2 to Baa1 with a stable outlook. Moody´s confirmed this credit rating in July 2019. 

Covestro targets a capital structure and financial ratios that support an investment-grade rating also in the future.

Issuer RatingOutlook Last Update
        Moody's
                    Baa2            stable                      Oct.  7, 2015
        Moody's
                    Baa2            stable                      June 10, 2016
        Moody's
                    Baa2
            positive                      Dec. 19, 2017
        Moody's                    Baa1            stable                      July 30, 2018
        Moody's                    Baa1            stable                      July   2, 2019

The rating evaluation represents the estimation of potential risks of a company, specifically the risk of it defaulting on its obligations in a debt financing agreement. If a company can meet its obligations towards creditors, the better its credit rating and the lesser the risk of default. In general, a company with a good rating can expect to obtain loans at more favorable conditions, as a loan issuer will increase interest according to the risk of default and the nature of the credit rating.

Responsible rating analyst at Moody's:
Martin Kohlhase
Phone +49-69-7073-0719
E-mail: martin.kohlhase(at)moodys.com

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